OFF/BEAT, the new venture by boAt cofounder Aman Gupta, has raised ₹100 Cr (approximately $10.7 million) in its seed funding round, led by Bessemer Venture Partners. The startup has not disclosed other participating investors.
Gupta announced the launch of OFF/BEAT in March, following his transition to a non-executive role at boAt, which is gearing up for an IPO. Reports suggest that OFF/BEAT may function as a venture studio, supporting new ideas and founders.
While specific offerings from the startup remain under wraps, Gupta emphasized the importance of understanding the cultural and technological shifts occurring in India. He stated, "A digitally native, aspirational generation is rewriting what companies must stand for... The founders who will define this moment are those who understand both the cultural shift and the technology enabling it."
Gupta partnered with Bessemer not just for funding, but to gain a global perspective and leverage technology effectively.
Bessemer Venture Partners has a history of backing notable companies such as Anthropic, Shopify, and LinkedIn. Their India portfolio includes major players like Swiggy and Urban Company.
This funding announcement coincides with boAt's preparations for its IPO, for which it filed an updated DRHP in October 2025, aiming for a ₹1,500 Cr public offering. The IPO will consist of a fresh issue of ₹500 Cr and an ₹1,000 Cr offer for sale from existing investors, with a targeted valuation of ₹13,000 Cr.
However, recent reports indicate that boAt has paused its IPO plans to reassess market conditions and internal readiness. Gupta stepped down as CMO at boAt last September, transitioning to a non-executive director role to help professionalize the management structure.
Financially, boAt returned to profitability in FY25 and continued its positive performance into Q1 FY26, reporting a net profit of ₹21.4 Cr compared to a net loss of ₹31.1 Cr in the same quarter the previous year.
